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 Probability Old Exam P Forum

#1
06-24-2009, 12:45 PM
 LegendBorn Join Date: Jun 2009 Location: Philadelphia Studying for Exam P/Test 1 College: Saint Joseph's University (Sophomore,Actuarial Science Major) Posts: 13
Help with Exam P

Hey i am a Sophomore in College, Saint Josephs University, Actuarial Science Major. I will start Calc 3 and, Fundamental Ideas of Math(Proofs) in the fall. In the spring, its Linear Algebra (this is all i can remember as far as Act-Sci/Math classes). the point im trying to make, is when should i start studying for Exam P?? i know its far off, but I have NO probability experience AT ALL (not even the "throwing the dice" stuff.) i learned a lil about permutations,connotations,and factorials.. where/when should i start? if i picked up an ACTEX study manual right now, how much of the material could i understand? advice?
#2
06-24-2009, 12:59 PM
 Noumenon84 Philosopher King Join Date: Jan 2009 Studying for FAP.... eventually Posts: 965

Try taking a class that goes over all the basic types of distributions. All I took besides calc 2 was an introduction probability course. Just knowing some discrete and continuous distributions, and the difference between discrete and continuous, and Baye's formula will really help you get more out of picking up a manual.

Just my .02 regarding the Actex manual.
It is the one I used and although I passed on my first attempt I am not sure if I had to do it again that I would use it. It has some nice summaries and condensed information, but if you don't have any experience with probability (and unfortunately permutations and computations don't really count) then I would search this forum for advice on other manuals that might introduce you to the basic distributions in a bit more detail. If you find the right manual for any test you can teach yourself the material without relying on a class.
__________________
Sum ergo Cogito

P FM MLC MFE C

Last edited by Noumenon84; 06-24-2009 at 01:03 PM..
#3
06-24-2009, 01:18 PM
 shawn Boon Member CAS SOA Join Date: May 2008 Location: Malaysia Studying for C College: Senior year Posts: 67

woo~ Noumenon84, you passed at the 1st attempt! how much u get and how long u spent?
Still, you can explain those SOA questions I asked in the other thread in such a clear way!
#4
06-26-2009, 04:12 PM
 we7dude Member Join Date: Jan 2009 College: Temple Alumni Posts: 322
what to do

Quote:
 Originally Posted by LegendBorn Hey i am a Sophomore in College, Saint Josephs University, Actuarial Science Major. I will start Calc 3 and, Fundamental Ideas of Math(Proofs) in the fall. In the spring, its Linear Algebra (this is all i can remember as far as Act-Sci/Math classes). the point im trying to make, is when should i start studying for Exam P?? i know its far off, but I have NO probability experience AT ALL (not even the "throwing the dice" stuff.) i learned a lil about permutations,connotations,and factorials.. where/when should i start? if i picked up an ACTEX study manual right now, how much of the material could i understand? advice?
#5
07-15-2009, 10:48 AM
 Actuarialness Member Join Date: Jan 2009 Posts: 48

Quote:
 Originally Posted by we7dude temple act sci folks are all into exams. why? because they have a rule, by the time you graduate and you got no exam, act sci department is holding your diploma for ya until...but i have never heard no one has had this happened.
I recently graduated from Temple with a degree in act sci and I have never heard of this supposed rule. If you passed all of the required classes, I don't see how they could do that.
#6
07-15-2009, 11:45 AM
 bigmo123 Member SOA Join Date: Jun 2009 Posts: 50

There are two ways people study for exams :
1.They do thousands of problems and once they're doing the exam : been there done that.

Results : You'll do seminars, actex, asm, 25 tests , and soa 140. Chances are you'll pass the exam, but god, you will have a terrible time.

2) You understand the concepts and not the questions. You focus on understanding every aspects so you can easily make relations between every topic. NOTHING in the theory is left away, and everything is well understood.

Results : You might study actex, and only SOA 140 to feel confident.
You'll laugh at the exam and pass it easily.

That's the way I've learn to study and so far, I've pass P and MFE in a 2 months period. (may sitting for mfe and july for P). and right now I'm studying fm for august sitting, and I'm not exausted at all.

I'm telling you this, because when I started studying, I just tried to understand problems and not the theory, and I've had many failures.

In conclusion, my advice is once you have a probabilty class, go on with P. If you major in act.sc, chances are you're bright and can do it.

Good luck
#7
07-15-2009, 12:20 PM
 Noumenon84 Philosopher King Join Date: Jan 2009 Studying for FAP.... eventually Posts: 965

I don't understand why people are so big on act sci programs. Why waste your time taking classes just to pass a test you can study for yourself? You will have to self-study eventually anyways.
__________________
Sum ergo Cogito

P FM MLC MFE C
#8
07-15-2009, 01:05 PM
 Actuarialness Member Join Date: Jan 2009 Posts: 48

Quote:
 Originally Posted by Noumenon84 I don't understand why people are so big on act sci programs. Why waste your time taking classes just to pass a test you can study for yourself? You will have to self-study eventually anyways.
Because you can get college credit for classes that help you prepare for these exams. Would you rather spend your time and money at college taking classes that you will never use? The act sci programs are also great ways to get internships and get your foot in the door with companies.
#9
07-15-2009, 01:40 PM
 Noumenon84 Philosopher King Join Date: Jan 2009 Studying for FAP.... eventually Posts: 965

Quote:
 Originally Posted by Actuarialness Because you can get college credit for classes that help you prepare for these exams. Would you rather spend your time and money at college taking classes that you will never use? The act sci programs are also great ways to get internships and get your foot in the door with companies.
I guess. It still seems like a good idea for some though to major in something else they are interested in that will benefit their career. But i suppose you have a point.

I just find I have a lot more fun studying on my own and at my own pace opposed to being restricted in a classroom environment.
__________________
Sum ergo Cogito

P FM MLC MFE C

Last edited by Noumenon84; 07-15-2009 at 01:43 PM..
#10
07-15-2009, 02:24 PM
 Actuarialness Member Join Date: Jan 2009 Posts: 48

Quote:
 Originally Posted by Noumenon84 I guess. It still seems like a good idea for some though to major in something else they are interested in that will benefit their career. But i suppose you have a point. I just find I have a lot more fun studying on my own and at my own pace opposed to being restricted in a classroom environment.
I agree with you about it being easier studying on your own, but the classes are still great for getting introduced to the material and it's much easier to get help for things you don't understand at first. I would also agree that it would be good to major in something else if you aren't positive this is the career you want or are hesitant about the exams, because I would think it's probably hard to find other kinds of jobs with an act sci degree.